The CFPB today announced a final rule that will require nonbank financial companies subject to Dodd-Frank to register and report if they have been subject to certain final orders from agencies or courts based on violations of certain consumer laws, and imposing injunctive or remedial relief. In the agency’s press release, it indicated it will use this data to create a public registry that can be used to identify repeat offenders and recidivism trends and to conduct due diligence.
